I'm curious as to how much you think Oceania and Azamara have affected the business of the likes of Seabourn, Regent, Silversea and Crystal?

That's why we have Eric - he should know.

When I ask Tim Rubacky at Oceania he says they get a lot of customers coming from both sides - people looking for value from the high end, and people buying up from the low end because all cruises are cheaper now.

If I ask Larry Pimentel at Azamara he says a lot of have come from Regent as well as Celebrity.